Market Overview
On Friday, US futures experienced a modest uptick, buoyed by optimism that the recent US-China trade agreement could lessen recession risks for the latter part of the year. This sentiment positively influenced market dynamics.
Notable Pre-Market Stock Movements
Applied Materials (NASDAQ: AMAT) witnessed a decline of 5.8% in its stock price. The dip followed the release of lower-than-expected sales figures in its most significant business segment.
Vistra Energy (NYSE: VST) saw its shares climb by 5.2%. The energy company announced a $1.9 billion acquisition of natural gas assets, aligning with its strategy to power artificial intelligence data centers.
Take-Two Interactive (NASDAQ: TTWO) shares decreased by 2.3%. This downturn was attributed to the delay of the highly anticipated Grand Theft Auto VI game, which resulted in annual order projections falling short.
Apple (NASDAQ: AAPL) shares edged up by 0.1%. KeyBanc Capital Markets’ exclusive Key First Look data indicated a 34% surge in iPhone sales compared to the same month last year, reversing a 24% decline from the previous year. This increase is believed to be driven by consumer concerns over potential tariff-induced price hikes.
Charter Communications (NASDAQ: CHTR) shares increased by 1.5% following an agreement to merge with Cox Communications. This merger, valuing Cox at $34.5 billion on a corporate basis, is one of the industry’s largest deals.
UnitedHealth (NYSE: UNH) shares rebounded by 2.2% after a 10% drop in the previous session. This recovery comes amid a Wall Street Journal report of a criminal investigation by the Justice Department into the healthcare company, following the withdrawal of its financial outlook and the announcement of Group CEO Andrew Witty’s departure.
Coinbase Global (NASDAQ: COIN) shares rose by 1.7%. Oppenheimer analysts suggested that the sell-off in the crypto exchange’s stock was “exaggerated” and forecast a potential 20% price increase.
Microsoft (NASDAQ: MSFT) shares slightly decreased by 0.1%. The European Union’s competition regulators revealed that Microsoft proposed offering its Office product without Teams at a reduced price and enhancing interoperability access for competitors.
Estee Lauder (NYSE: EL) shares surged by 4.3%. This rise followed the acquisition of shares by Michael Burry’s Scion Asset Management company.
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